Know How COVID-19 Impacting On Global Beacon Technology Market in During Forecast Period of 2019-2020

The beacon technology has a wide scope in the proximity marketing and location-based technology. Beacons, as data collecting tools, help Google to understand businesses that use the services it offers and enable the users to improve their algorithm.

Some factors behind the growth of the market
Increasing adoption and popularity of advanced communication technologies in the fields such as education, retail, healthcare, and, hospitality is the factors attributing to the growth of the market in upcoming years.

Beacons are also playing a significant role in the reshaping of election campaigning, which is also anticipated to boost the growth of the global beacon technology market. This technology has been proved to be the perfect platform for attracting supporters and providing relevant and useful information during the time of election.

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According to a study of Research Dive,theglobal beacon technology marketforecastshallcross $45,213.7million by 2026, growing at a CAGR of 75.4%.

The growing adoption of beacons for innovation in the business model is one of the significant factors for the growth of the beacon technology market.Beacon is a versatile product that has a key role in the application of retail, education, healthcare, and others. Moreover, to gain competitive advantages, market players are focusing high on business intelligence. For instance, FUJITSU has invented Bluetooth beacons which make indoor navigation accurate and it also provide an improved user experience. These beacons are cost-effective and provide valuable information such as bottlenecks, the effectiveness of offers and, customer movements.These factors are anticipated to boost the demand for beacons in the global market. In addition, beacons have great significance in the retail sector mainly because they provide key benefits of being highly effective, easy to deploy and lower in cost. However, alternatives like HubSpot Marketing, kpeiz, and Only pult social media platform are available in the global market. These platforms are expected to decline the global beacon technology market growth.

On the other hand, solar-powered BLE (Bluetooth Low Energy) beacons are an attractive solution for IoT applications such as healthcare, advertisement, and transportation. Solar-powered beacons can be used for the reduction of maintenance and increase of the lifespan of networks.Solar-powered BLE beacons give the best performance in terms of accuracy and energy efficiency.These renewable evolutions in beacon technology are anticipated to create vast opportunities for the beacon technology market.

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The global cloud segment has a rapidly growing market, and it will generate a revenue of $23,330.3 million by 2026, increasing at a CAGR of 76.9%, during the forecast period. Cloud-based beacons can connect and manage to any smart device within a 50-meter range. Also, users can automatically update this beacon anytime and from anywhere, across the globe. Furthermore, cloud beacon has a feature to set and schedule UUID (universally unique identifier), to provide infrastructure security.

The global Alt Beacon platform has the fastest growing market, and it shall surpass $14332.7 million by 2026, growing at a CAGR of 77.1%, over the forecast period. This is mainly because Alt Beacon has an open and inter operable specification for proximity beacons. For instance, Radius Networks, Inc. is offering AltBeacon which has more significance over multiple platforms from Android, iOS, Windows, and many others.

The beacon technology of the European region is the dominating market, and it will surpass $13,473.7 million over the forecast period. This is mainly because of the extensive deployment of beacon technology in the application fields like transportation, healthcare, and tourism. Also, the availability of internet infrastructure in economies like Germany, the UK, and Italy are expected to upsurge the beacon technology market in Europe.

The major beacon technology market manufacturers arePaeDae, Inc. dba Gimbal, HID Global Corporation/ASSA ABLOY AB., by Kontakt.io, Estimote, Inc, Apple Inc., RECO, Glimworm Beacons, SAMSUNG,Qualcomm Technologies, Inc., and Hewlett Packard Enterprise Development LP.To elaborate more on the competitive landscape analysis of market players, the porter's five force model is explained in this report.

Mr. Abhishek Paliwal
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